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US natgas prices up 2% on forecasts for higher demand, lower output
U.S. natural gas futures rose about 2% to a one-week high on Wednesday on forecasts for more demand over the next two weeks than previously expected and a drop in daily output. On its last day as the front-month, gas futures for October delivery on the New York Mercantile Exchange rose 4 cents, or 1.5%, to $2.696 per million British thermal units (mmBtu) by 8:50 a.m. EDT (1250 GMT). That puts the contract on track to rise for a fourth day in a row for the first time since mid September and to close at its highest since Sept. 20. Futures for November, which will soon be the front-month, were up about 5 cents at $2.90 ... (full story)